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Moses Chia
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Decks in this class (12)
Chapter 1 - Nature & Scope
What does ceteris paribus mean,
What is a positive statement,
What is a normative statement
17
cards
Chapter 2 - Decision Making Approach
What do economic agents have to c...,
Outline the decision making frame...
2
cards
Chapter 3 - Theory of Demand and Supply
Define the market,
What is demand,
What does the law of demand state
25
cards
Chapter 4 - Elasticity of Demand and Supply
Define price elasticity of demand...,
What is the formula for ped pes w...,
When is demand perfectly price el...
15
cards
Chapter 5 - Application of Demand, Supply and Elasticity
How do you calculate total revenu...,
What is an indirect tax,
Define deadweight loss
21
cards
Chapter 6 Part 1 - Market Failure & Government Intervention
What does the price mechanism do,
What are the assumptions of the p...,
What is productive efficiency
55
cards
Chapter 6 Part 2 - Market Failure & Govt Intervention
List 3 causes of imperfect inform...,
Define imperfect information,
Outline the 5 steps in explaining...
11
cards
Chapter 7 - Introduction to Macroeconomics & National Income Accounting
What are the macroeconomic indica...,
What are the macroeconomic aims,
Define national income
31
cards
Chapter 9 - Economic Growth
Define economic growth,
What is the formula for economic ...,
What is the significance of the s...
48
cards
Chapter 11 - Inflation
What is inflation,
How is consumer price index calcu...,
How to calculate inflation rate
28
cards
Chapter 8 - Theory of Aggregate Demand and Aggregate Supply
Define aggregate demand,
What are the components of ad,
Define consumption expenditure
34
cards
Chapter 10 - Unemployment
Define the labour force,
What is unemployment,
What is unemployment rate
33
cards
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H1 Econs
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